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Continuing incentives and improving economic news are driving first-quarter auto sales at an annual pace that's likely to be 1 million vehicles better than had been expected at the beginning of the year, according to USA Today.
March sales are projected to be at an annualized rate of between 16.5 million and 17 million, according to the latest figures from J.D. Power and Associates. The research firm has raised its full-year projection to 16.4 million from 16 million.
At the start of the year, some Wall Street analysts and automakers had predicted sales as low as 15.5 million. But the U.S. jobless rate fell in February, and earlier this month, the widely watched University of Michigan consumer index rose to its highest level since December 2000.
Good economic news, continued buyer incentives, and expiring leases are helping to boost sales, according to industry analysts.
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